Progyny (NASDAQ:PGNY) Posts Earnings Results, Beats Estimates By $0.21 EPS

Progyny (NASDAQ:PGNY) posted its quarterly earnings results on Wednesday. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.21, FiscalAI reports. Progyny had a return on equity of 15.98% and a net margin of 6.00%. The business had revenue of $341.25 million for the quarter, compared to analyst estimates of $340.76 million.

Progyny Stock Performance

PGNY stock traded up $1.04 during midday trading on Wednesday, hitting $30.10. 1,244,780 shares of the company’s stock were exchanged, compared to its average volume of 1,358,751. Progyny has a one year low of $16.10 and a one year high of $33.06. The company has a market cap of $2.31 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.03 and a beta of 0.97. The stock’s fifty day moving average price is $27.03 and its 200-day moving average price is $24.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group set a $33.00 price objective on Progyny in a report on Tuesday, September 8th. Weiss Ratings upgraded Progyny from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Wall Street Zen lowered Progyny from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Leerink Partners set a $38.00 price target on Progyny in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on Progyny from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.36.

Insiders Place Their Bets

In related news, Director Kevin K. Gordon sold 11,500 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $27.94, for a total value of $321,310.00. Following the completion of the transaction, the director directly owned 6,792 shares in the company, valued at approximately $189,768.48. The trade was a 62.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Melissa B. Cummings sold 1,879 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $28.00, for a total value of $52,612.00. Following the completion of the transaction, the chief operating officer owned 66,496 shares of the company’s stock, valued at $1,861,888. This represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,282 shares of company stock worth $475,790 over the last ninety days. 9.90% of the stock is currently owned by corporate insiders.

Progyny Company Profile

Progyny, Inc is a benefits-management company focused on fertility and family-building care. The company works with employers to provide comprehensive benefits that help members access fertility treatments and related services through a network of specialized providers.

Its offerings include coverage and support for services such as in vitro fertilization, fertility testing, egg and sperm freezing, donor services, gestational surrogacy, and adoption. Progyny also provides pharmacy benefits through Progyny Rx, as well as personalized guidance intended to help members navigate treatment options, providers, and the broader family-building process.

Progyny primarily serves self-insured employers and their employees in the United States.